STATE OF NEW YORK
________________________________________________________________________
11723
IN ASSEMBLY
November 24, 2010
___________
Introduced by COMMITTEE ON RULES -- (at request of M. of A. Schimminger,
Hoyt, Schroeder) -- read once and referred to the Committee on Ways
and Means
AN ACT to amend the tax law, in relation to exempting insurance compa-
nies from the temporary deferral of tax credits and to repeal certain
provisions of such law relating thereto
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The opening paragraph of paragraph (a) of subdivision 3 of
2 section 33 of the tax law, as added by section 1 of part Y of chapter 57
3 of the laws of 2010, is amended to read as follows:
4 This section shall apply to the credits allowed under the following
5 provisions in article nine-a of this chapter and any applicable counter-
6 part provisions in articles nine, twenty-two[,] and thirty-two [and
7 thirty-three] of this chapter:
8 § 2. Subparagraph 5 of paragraph (a) and subparagraph 5 of paragraph
9 (b) of subdivision 3 of section 34 of the tax law, as added by section 2
10 of part Y of chapter 57 of the laws of 2010, are REPEALED.
11 § 3. Subdivisions (y) and (z) of section 1511 of the tax law, subdivi-
12 sion (y) as added by section 7 of part Y of chapter 57 of the laws of
13 2010, are REPEALED.
14 § 4. This act shall take effect immediately and shall be deemed to
15 have been in full force and effect on and after August 11, 2010.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD18199-02-0
